High energy costs cut two ways in Colorado

A tourist mecca
Colorado is perhaps best known as a tourist mecca, drawing the wealthy, famous and avidly outdoorsy to its awe-inspiring mountains. But the state also has a relatively diverse economy that includes technology, natural resources, mining and agriculture.

That's one reason that Wobbekind, of the University of Colorado, remains relatively optimistic about the state's economic outlook.

In addition to benefiting from higher natural gas prices, the state has moved to attract producers of clean energy such as wind and solar power, which Wobbekind thinks have the potential to generate more economic activity in the future.

Thanks in part to the Democratic convention, Wobbekind's annual forecast also is relatively bullish for the state’s tourism and hospitality industry. But high gas prices could crimp vacation plans and offset some of those gains, he said.

Also, while Colorado was among the first states to be hit by the housing crisis, recent signs have been more promising. Foreclosure filings fell by nearly 15 percent from the first to the second quarters this year, according to RealtyTrac, while nationwide foreclosure filings rose by nearly 14 percent.

“In the last few months, notably, the state has really been sort of going counter to the rest of the country,” said Rick Sharga, vice president at RealtyTrac.

He credits the state for aggressively tackling housing problems early on by enacting stricter standards for mortgage brokers and creating a toll-free hot line and other resources for those facing foreclosure.

But while the state itself seems to be weathering the national economic turmoil, many of its residents still say they are fighting to stay afloat.

Skyrocketing heating bills
Many of the Gut Check America readers in Colorado who responded to msnbc.com's appeal to share their stories mentioned job security and rising food prices as issues that were causing them sleepless nights. But by far the most common refrain was concern about energy prices, including the pain they are feeling at the pump and concerns over how they will be able to afford skyrocketing heating bills during the cold winter months.

Sanders, the airplane manufacturer, said he expects to be squeezed by high heating bills at his 5,000-square-foot shop this winter. He'll also be forced to pass increased shipping costs on to his customers.

"It's just making it tougher and more expensive for me," he said.

For some, rising prices mean little money for once-normal indulgences like a day trip to the mountains or a dinner out. Others are worried about more basic obligations, like buying groceries and paying the heating bill.

Kimberly Jackson, 35, of Denver, works as a traveling nurse, but lately she said she has been turning down jobs because gas prices are too high to make the trips worthwhile. The high cost of gas also has forced her to cut back on visits to friends and to ride her bike more often when running errands.

Jackson, who is undecided about who she will vote for in November, said the presidential candidates' energy policies will be an important factor. That's partly because Jackson also is a law student, and if the new president's policies focus on clean energy, she thinks that could help her land a job in her home state.

But otherwise she sees only a slim chance of landing a local job in her chosen field — public interest law — after graduating from the University of Denver with a dual degree in law and social work. Even if she does get a job in the state, she doesn’t think it will pay as well as her current nursing job. And she’ll be saddled with about $130,000 in student loan debt.

That has Jackson, an avid outdoorswoman, contemplating leaving her home state.

“I’m sure there are other places like this, but it’s almost a part of me,” she said. “But the economics (are such that) I’m almost certain that I will have to look elsewhere for work.”

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